DEUTSCHEGOLDMESSE

GERMAN GOLD SHOW

November 2020

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Greenfields Exploration at its Best

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Forward Looking StatementsCertain statements in this presentation document are forward-looking statements, which reflect the expectations of management regarding the business development objectives and plans of Sable Resources Ltd. and its subsidiaries (collectively referred to as “Sable” or the “Company”. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this presentation include statements regarding the company’s proposed targets for production and for other exploration and development plans; statements regarding exploration upside; statements regarding projected metallurgical recoveries; statements regarding plans for 2018 exploration and development; statements regarding expected costs; statements regarding the mill; and statements regarding 2018 objectives and targets. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.

These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with gold and silver exploration, (3) a decreased demand for gold and silver, (4) any number of events or causes which may delay exploration and development of the Company’s property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, (7) inability to obtain all necessary permitting and financing, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this presentation and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws. Additional information about the Company and these and other assumptions, risks and uncertainties is available in the Company’s public filings with Canadian securities regulators, available on SEDAR at www.sedar.com. Any Resources, Reserves or other estimates as to the volume of mineralized rock contained herein are historical estimates and were completed prior to the implementation of NI 43-101 unless expressly stated. Sufficient work to classify the historic mineral resource as a current mineral resource has not been completed. Hence, the resource estimate should not be relied upon.

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Cor po ra teShare Structure and Capitalization

1 Year Share Price Performance

Current Price (as at October 14, 2020) C$0.19

52-Wk High C$0.235

52-Wk Low C$0.035

Shares Outstanding 228,156,604

Market Capitalization ( MCAD) $43

Cash (MCAD) 16.5

Capital Structure (C$M Except Per Share Figures) Dilutive Securities

Options 14,400,000

Warrants 55,553,411

Total 69,953,411

(Add) Basic Shares Outstanding 228,156,604

Fully Diluted Shares Outstanding 298,110,015

Management & Board Own 10%

16.5 (M CAD) In The Treasury

Share Structure Insiders

Institutions Retail

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Bus iness Ob jec t i ve & Exp lo ra t ion Process

• A Mineral Exploration Company

• With the Objective to Create Exceptional Gains by Mineral Discoveries

• Proven Team With a Track Record of Success, and Well Financed

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Systematic / Scientific Exploration Phased Approach

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L i fe Cyc le o f M inera l D iscover ies Sable a Well Positioned Explorer to Deliver Discoveries and Sustainable Value

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Cor po ra te

• Ruben Padilla– President, CEO, Director• PhD from University of Arizona on Escondida• Over 33 years of experience in mineral exploration • 13 years exploration geologist for BHP

Chief Geologist for the Americas with Anglo Gold Ashanti

• Director of Geology of Talisker Resources • Part of teams that discovered 47 M ounces of gold

• Tom Obradovich– Director, Chairman• Over 35 years of experience in mining, exploration

and development • Key member behind the Fruta Del Norte deposit

which was sold to Kinross for US$1.2 billion in 2008

• Brent Gilchrist – Director• Mining and Finance executive • President of JDS Energy and Mining• Purchased, built, operated, and sold the Silvertip

mine to Coeur Mining for US$250 million

• Jonathan Rubenstein – Director • Over 38 years in strategic, commercial, governance,

and government relations• aspects include acquisition, financing, exploration,

permitting and development of many world glass assets

• Terry Harbort – VP Corporate Development, Director• PhD in Structural Geology and Tectonics• Over 25 years of experience in mineral exploration• CEO, President, Director of Talisker Resources• Sr. member of the Anglo Gold Ashanti team• Part of teams that discovered 47 M ounces of gold

• Andres Tinajero – Director • 20+ Years of Financial and Risk Management of Public

Companies Across North America. Has Supported a Range of Industries Including: Natural Resources, Manufacturing & Technology

• Luis Arteaga – VP Exploration, MSc P.Geo QP • MSc from Laurentian University• Professional Geoscientist from PGO in Ontario • Over 15 years of experience • Sr. Geologist with Talisker Exploration Services • Worked in multi geological terrains and deposits

types globally

• Jason Kosec – VP Strategic Development• Over 10 years of mineral exploration, development

and production • Master in Earth and Energy Resources• Sr. Geologist and VP Corporate Development with

Barkerville Gold Mines• Key member behind 13 M ounces

Management team with over 47 M oz of greenfields discoveries in the Americas

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Sab le Exp lo ra t ion Ju r i sd ic t i ons Focused in Latin America Endowed and Pro-Mining Provinces

Mexico

San Juan, Argentina

• Along the richest silver province of the world

• 39,414 ha in 11 mining titles

• 1.16M ha in mineral applications

• 140 anomalies identified, 43 reviewed, 18 discarded, 94 pending follow up

• 3 Drill ready projects

• Discovery of an open pitable Ag deposit, ready for divestment

• 110,877 ha along the extension of El Indio-Pascua mineral belt (50Moz+)

• Two main project areas: El Fierro and Don Julio

• 2nd best ranked region of Latin America for mining investment (Fraser Institute ranking)

• Potential to discover new mining districts (Au-Ag-Cu-Zn)

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Mex ico Exploring in the Worlds Richest Silver Mineral Belt

Vinata Au-Ag Project

• Two Targets: Vinata North and South

• Target are high grade Au-Ag veins

• 10 holes completed

• Large Au anomalous alteration zone identified

with drilling

• Drilling will resume this month, 5000m

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Mex ico

El Escarpe Drill Ready Target • Grassroots finding

• Target: High-grade Au-Ag veins

• Multi kilometer Au surface anomaly

• Windows of the mineralized system

below thin post mineral basalts

• Close to Infrastructure

• Chalcedonic to Opaline Textures

• Mineralized Above Bonanza Au to

1.5g/t, Ag to 66g/t

• 100% Sable Owned

• Completed internal 43-101

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Exploring in the Worlds Richest Silver Mineral Belt

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Mex ico Margarita Silver Discovery – Ready to Divest

Internal Resource Estimate Complete

• Low-Intermediate Sulphidation Epithermal Ag (Zn-Pb ±Au)

• 1.7km of Outcropping Multiple Veins

• Channel Sampling 100-900 g/t Ag

• 1kg/t+ AgEq values in Drill Results

• Wide Vein Intercept Widths to over 12m

• 5,097 m of drilling in 35 DHs

• ~5,000 m drilling needed to convert current potential open pit resources to inferred

• Potential for high grade underground Ag-Zn-Pb mineralization

• Mining Friendly Chihuahua

• Adjacent to Sunshine Silver Los Gatos (256Moz AgEq) & Surrounded by Sunshine Claims

• Option to Earn 100%

M-DDH-18-08Sample 52846610 g/t Ag1.26 g/t Au

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DON JUL IO PROJECT: San Juan , A rgen t i na

Amaril

loColorado

Heaven Hill Esperanza

Tocota

La Gringa

Lodo SurLodo Norte

San Gabriel

• 12 x 10 km mineralized and altered zone.

• 58,000 ha, option to acquire 100%

• 2.5 years of detailed geological work

• 4 targets in multi-kilometers intermediate Au-Ag veins

• 1 outcropping Zn-Pb-Cu-Ag skarn target

• 3 interpreted concealed Au-Cu porphyry systems

• 2 advanced high sulphidation Au mineral zones•• Geophysics and initiation of 10,000 m of drilling

Potential to Become a New Mineral District with Multiple Deposits

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EL F IERRO PROJECT: San Juan , A r gen t i na High-Grade Ag-Au(Pb-Zn-Cu) Mineralization Over Large Magnetic Anomaly

380 g/t Ag

• 46,391 ha land package

• Historical mining district in San Juan

province

• Polymetallic mesothermal veins.

• High grade Ag, Pb, Zn, Cu

• Never drilled or explored in modern

times

• Three main zones: Fierro Bajo, Fierro

Alto, and La Verde

• 8 by 4 km footprint defined so far. Tremendous upside potential for

additional mineralization

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8km4k

m

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San Juan , A r gen t i na El Fierro Project: Fierro Bajo Mineral Zone

Fierro Bajo

380 g/t Ag

• Four mineralized structures were defined at Fierro Bajo (2 x 0.5km)

• Results of preliminary sampling were released on August 12

• Ag values up to 12 kg/t

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San Juan , A r gen t i na El Fierro Project: Fierro Alto Mineral Zone

Fierro Alto

380 g/t Ag

• Five mineralized structures were defined at Fierro Alto

• Results of sampling and mapping were released on September 15

• AgEq values up to 1,946.50 g/t AgEq

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San Juan , A r gen t i na El Fierro Project: La Verde Mineral Zone

La Verde

380 g/t Ag

Vein M

Vein N

Vein P

Vein P

• 2,582.06 g/t AgEq (784 g/t Ag, 16.7g/t Au, 3.42%Pb, 0.302% Zn, 2.54% Cu) Grab Sample

• 1,913.38 g/t AgEq (900g/t Ag, 2.57g/t Au, 20% Pb*,0.186% Zn, 1.22% Cu) Grab Sample

• 1,502.00 g/t AgEq (339g/t Ag, 3.11g/t Au, 20% Pb*,3.43% Zn, 0.941% Cu) Grab Sample

• 1,631.30 g/t AgEq (444g/t Ag, 1.23g/t Au, 20% Pb*,2.72% Zn, 2.91% Cu) Grab Sample

Vein N

• 1,342.41 g/t AgEq (736g/t Ag, 4.52g/t Au, 2.43%Pb, 0.396% Zn, 1.22% Cu) Grab Sample

• 1,103.15 g/t AgEq (353g/t Ag, 0.505g/t Au, 19.9%Pb, 0.363% Zn, 0.343% Cu) 1m Channel Sample

Vein M

• 1,245.41 g/t AgEq (256g/t Ag, 3.38g/t Au, 20% Pb*,0.411% Zn, 0.277% Cu) 0.5m Channel Sample

• 971.38 g/t AgEq (269g/t Ag, 0.236g/t Au, 20% Pb*,0.115% Zn, 0.173% Cu) 0.2m Channel Sample

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• Complete mapping, sampling Ground Mag and IP

• Recognizing work in the rest of the property

• Preparation to initiate drilling in late January

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Pathway To D iscovery Timeline

2020 Timeline

2011 - 2023Timeline

3 5 4

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2011-2023 Timeline

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2020 - 2021 Ca ta lys t … Trans i t i on For Por t fo l i o Crea t ion To Mu l t i p le Dr i l l Tes t ing

• Well Finance

• 16.5 M cash position

• Additional cash could come form sale of 1% NSR on Talisker’s Tulox, Backer Shasta, and Spences

Bridge / Divestment of Margarita divestment

• At year end Sable could have over 20 M CAD$ cash

• Drilling/Exploration

• 5000 m at Vinata North and Vinata South

• 10,000 m at El Fierro

• Geophysics & initiation of 10,000 m of at Don Julio Cluster

• Other

• 2 JV deals on Sable’s properties under negotiation, to increase meters drilled and drill projects

• Additional drill- ready targets from ongoing work on pending anomalies in Sable’s land package

• Search for new project acquisitions

Pathway to Discovery

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Greenfields Exploration at its Best

THANKS